724 E Division Ave · Peoria Heights, IL 61616

$79,900

2 bd · 1.0 ba · 1,036 sqft · SingleFamily public records · 24 Days on market

Built 1955 4,791 sqft lot $77/sqft · 25% below area Est $107k · 25% under

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• ARV discount +15.0/15.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• Livability +3.1/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Schools +1.0/10.0
• Appreciation +0.0/10.0

Listing remarks

Tucked into a convenient Peoria Heights location and within walking distance to Dozer Park, this 3 bedroom, 1 bathroom ranch offers solid potential for investors, flippers, or buyers looking to build equity. With over 1,000 finished square feet, the home presents an opportunity for cosmetic updates that could make a big impact. Fresh flooring, paint, and appliances could quickly refresh the space and unlock additional value. The functional ranch layout, manageable footprint, and convenient access to shopping, dining, entertainment, and downtown amenities make this a property worth a closer look. Whether you're searching for your next project, rental opportunity, or affordable owner-occupied

Key facts

• 4,791 sq ft lot
• Parking
• Built 1955

Property features AI

Finance

• Other: Subdivision: Orr's Subdivison; Lot dimensions approx. 40 x 120
• HOA & community: No association fees

Exterior

• Parking: On-street parking; Parking pad
• Utilities: Public water; Public sewer
• Home design: Single-family residence; Residential zoning; Shingle roof; Living area approx. 1036
• Construction: Built in 1955
• Exterior features: Level lot; Paved road access

Interior

• Kitchen: Kitchen on main level (vinyl flooring)
• Bedrooms: 3 bedrooms; Main-level bedroom approx. 15 x 12 with egress window; Main-level bedroom approx. 11 x 8 with egress window; Main-level bedroom approx. 11 x 7 with egress window
• Flooring: Carpet in bedrooms; Laminate in living room; Vinyl in kitchen and laundry
• Bathrooms: 1 full bathroom
• Heating & cooling: Forced air heating; Central air conditioning
• Interior features: Cable available; Crawl space basement
• Laundry & utility: Main-level laundry room (vinyl flooring) approx. 13 x 9; Gas water heater

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath single-family listed at $80k.

Deal economics

• At list price, monthly cash flow is $547 ($7k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($1k rent vs $80k).
• Recommended offer: $79k (1.5% below list) — sets the bar for market timing.
• Cap rate 14.5% vs local median 8.8% in Peoria Heights — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 62/100 on livability (#886 in IL) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A-, health & safety B+; Watch: crime F, amenities F, commute F.
• Peoria Heights CUSD 325 (suburban): math 8% / reading 15% proficiency, ranked #560 of 620 in IL (top 90%) — low school quality limits family demand, transient renter base, plan for 1-2y turnover.
• Zoned schools: Peoria Heights Grade School (math 7% / reading 14%, grade F, #1,473 of 2,056 statewide, top 72%, 546 students, 0% FRL); Peoria Heights High School (math 15% / reading 24%, grade F, #379 of 693 statewide, top 57%, 208 students, 0% FRL) — zoned schools average 0% FRL vs 50% district-wide (50 pts lower); this property's tenant base skews higher-income than the district average.
• Market conditions: 32 active listings in the ZIP; 19 comparable units currently listed for rent nearby; rentals leasing fast (median 13d on market — plan ~1-2 weeks tenant-placement turnaround); 73 units permitted in Peoria County in 2024 (0 in 5+ unit buildings).

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $552 of loan paydown is wiped out by about $2k of value loss. Plan a longer hold.
• Peoria County population projected at -11% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• At projected returns (-3.0% appreciation + 3.0% rent growth), your $22k cash investment doubles in ~5 years — after that, you're playing with house money.

Negotiation context

• It's been on market 24 days — a 2% lower offer ($79k) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: built in 1955 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $78,701 (1.5% below list)

Questions for the listing agent

1. Built in 1955 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
2. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
3. Schools are F-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
4. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
5. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
6. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
7. How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.

Investment metrics

• 1% rule: 1.65% ✓
• Cap rate: 14.51%
• Cash-on-cash: 29.36%
• DSCR: 2.31
• GRM: 5.0

CMA / ARV

• ARV (median comp): $106,906
• List price: $79,900
• Delta: -25.26%
• Verdict: UNDERPRICED
• Comps: 20 within 1.0 mi

Show comp detail 12 sales within ~0.75 mi

Address	Dist	Beds/Ba	Sqft	Sold	Price	$/sf	Match
624 E Paris Ave	0.20mi	2/1.0	1,074 (+4%)	2mo	$67,000	$62	82
718 E London Ave	0.26mi	2/1.0	1,103 (+6%)	1mo	$67,000	$61	76
1216 E Rouse Ave	0.48mi	2/1.0	1,044 (+1%)	1mo	$164,000	$157	76
705 E Cox Ave	0.17mi	3/1.0 (+1)	897 (-13%)	2mo	$125,000	$139	63
4212 N Prospect Rd	0.55mi	2/1.0	979 (-6%)	3mo	$100,500	$103	63
1118 E London Ave	0.41mi	2/2.0	1,116 (+8%)	2mo	$139,900	$125	62
709 E Cox Ave	0.17mi	3/1.0 (+1)	888 (-14%)	2mo	$75,000	$84	62
315 E Elmhurst Ave	0.65mi	3/1.5 (+1)	1,046 (+1%)	1mo	$111,000	$106	60
904 E Forrest Hill Ave	0.62mi	2/1.0	994 (-4%)	7mo	$89,900	$90	58
222 E Odell Pl	0.67mi	3/1.0 (+1)	1,088 (+5%)	1mo	$98,000	$90	55
903 E Lake Ave	0.43mi	3/2.0 (+1)	1,161 (+12%)	6mo	$175,000	$151	46
1317 E Elmhurst Ave	0.73mi	2/1.0	918 (-11%)	2mo	$44,000	$48	45

Match score weights: distance 35% · size 25% · config 20% · recency 20%. Top-matched comps best support the ARV.

Projected returns pro-forma

-3.0% appreciation · 3.0% rent growth · sell at horizon

5-year hold

• IRR: 23.8%
• Equity multiple: 1.98×
• Total profit: $21,897
• Equity at exit: $11,913

10-year hold

• IRR: 31.7%
• Equity multiple: 3.86×
• Total profit: $63,891
• Equity at exit: $6,908

Cash invested: $22,372 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 43 Moderately Tenant-Leaning
• State Illinois: 43 Moderately Tenant-Leaning · D+7
• County: — inherits STATE
• City: — inherits STATE

Chicago RTLO is among the strongest tenant ordinances in the Midwest; downstate is more landlord-friendly.

Methodology + full state rankings →

ZIP-level market 61616

• Home prices YoY: -31.0%
• Active inventory: 32
• Price-to-rent: 5.0×

Monthly cashflow live

• Estimated rent: $1,319 high
• Mortgage (P&I): −$419
• Tax from tax record: −$42 /mo · $507/yr
• Insurance: −$33
• HOA: −$0
• Vacancy / Maint / Mgmt: −$277
• Net cashflow: $547

Break-even live

Break-even rent $626

Max offer price $79,900

Occupancy floor 54%

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $19,975
• Closing costs: $2,397
• Reserves months: —
• Total cash needed: —

Rent comps 19 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
3912 N Atlantic Ave Peoria Heights, IL	2.0	1.0	825	$1,100	$1.33	43d	1	0.35mi
813 E Sciota Ave Peoria Heights, IL	2.0	2.0	800	$1,400	$1.75	13d	1	0.45mi
228 E Oak Cliff Ct Unit A2 Peoria, IL	2.0	1.0	1000	$1,050	$1.05	13d	1	0.57mi
126 E Lake Ave Peoria, IL	2.0	1.0	950	$1,050	$1.11	13d	9	0.59mi
905 E Marietta Ave Unit A Peoria Heights, IL	2.0	2.0	1200	$1,600	$1.33	13d	1	0.59mi
4914 N Best St Peoria Heights, IL	2.0	1.0	720	$1,200	$1.67	43d	1	0.92mi
4809 Knoxville Ave Unit 4819 4B, 5A, & 5B Peoria, IL	3.0	2.0	700	$1,800	$2.57	13d	1	0.98mi
4809 Knoxville Ave Apt 3D Peoria, IL	1.0	1.0	775	$775	$1.00	21d	1	0.98mi
4809 Knoxville Ave Apt 2C Peoria, IL	1.0	1.0	700	$850	$1.21	21d	1	0.98mi
737 E Gift Ave Unit 737 Peoria, IL	2.0	1.0	800	$1,125	$1.41	43d	1	1.00mi
505 E Virginia Ave Peoria, IL	2.0	2.0	1204	$758	$0.63	13d	1	1.10mi
5106 N Glen Elm Dr Peoria Heights, IL	2.0	1.0	1008	$2,400	$2.38	13d	1	1.10mi
W Crestwood Dr Peoria, IL	1.0–2.0	1.0	800	$975	$1.22	13d	4	1.15mi
811 W Purtscher Dr Peoria, IL	3.0	1.0	864	$1,100	$1.27	43d	1	1.17mi
308 E Archer Ave Peoria, IL	3.0	1.0	1444	$950	$0.66	13d	1	1.30mi
4020 N Bryer Pl Peoria, IL	2.0	1.0	720	$1,250	$1.74	21d	1	1.35mi
751 W Joan Ct Peoria, IL	2.0	2.0	1000	$1,150	$1.15	13d	1	1.36mi
2210 Knoxville Ave #2212 Peoria, IL	2.0	1.0	1284	$950	$0.74	43d	1	1.42mi
2121 N Prospect Rd Peoria, IL	3.0	1.0	946	$802	$0.85	13d	1	1.46mi

Listing history 6 events

1. 2026-06-02
   status $79,900 Pending 24 DOM
2. 2026-06-01
   days on market $79,900 Active 24 DOM
3. 2026-05-31
   days on market $79,900 Active 23 DOM
4. 2026-05-30
   days on market $79,900 Active 22 DOM
5. 2026-05-08
   listed $79,900 Active 758-char remark
6. 2026-05-04
   historical $79,900 758-char remark

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast IL · Partial reset (capped growth)

• Current annual tax: $507 · $42/mo
• Projected year-2 tax: $1,160 · $97/mo
• Expected delta: +$653/yr (+$54/mo · 128.8%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 3/10 Moderate 7 d/yr ≥104°F today · 18 d/yr by 30 yrs out
• 💨 Wind 2/10 Low 100% chance of damaging wind over 30 yrs
• 🫁 Air quality 3/10 Moderate 1 unhealthy d/yr today · 3 by 30 yrs out

Taxation est. · year 1

• Rental income: $15,826
• − Mortgage interest: −$4,476
• − Property taxes: −$507
• − Insurance: −$400
• − Repairs & maintenance: −$1,266
• − Management: −$1,266
• − Depreciation: −$2,324
• Taxable income: $5,587
• Est. tax owed @ 24.0%: −$1,341
• After-tax cash flow: $5,227/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Peoria Heights CUSD 325
• NCES district ID: 1731270
• Math proficiency: 8% ▼ -3.00%
• Reading proficiency: 15% ▼ -6.00%
• Median HH income: $44,878
• Composite: 10.35/100
• National rank: #9788
• State rank: #560 of 620 in IL

Livability — Peoria Heights

• Score: 62/100
• State rank: #886
• US rank: #17272

Category grades

Amenities F Commute F Cost of living A+ Crime F Employment D- Housing A- Health & safety B+ User ratings D-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Peoria Heights, IL
• County: Peoria County · 120,495 people
• City population: 5,825
• Metro: Peoria, IL
• Population (ZIP): 5,825
• Household income: $60,099
• Rent vs Own: 33.6% rent · 66.4% own
• Severe rent burden: 82.0

Population outlook (Peoria County) Hauer SSP2

• Today (2025): 183,007 people
• By 2030: 179,643 · -1.8%
• By 2040: 171,782 · -6.1%
• By 2050: 163,508 · -10.7%
• By 2075: 140,178 · -23.4%
• By 2100: 114,493 · -37.4%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly White (87%)
• Race & ethnicity: White 87% Black 4% Two or more races 4% Hispanic / Latino 3% Asian 3%
• Common ancestry: Iranian 5% Italian 2% Slovak 2%
• Foreign-born: 5% · Canada, South Korea
• Languages at home: 93% English-only · Chinese 2% Spanish 2% Other Indo-European 2%

Political lean MEDSL · Peoria

• 2024 margin: Toss-up / Even · D 51.5% · R 46.9% · Other 1.6%
• 2008→2024 swing: -9.2pp toward R · 2008: 13.9pp · 2024: 4.7pp
• All cycles: 2024: D+4.7 2020: D+6.3 2016: D+2.8 2012: D+4.4 2008: D+13.9

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -78.59%
• Current HPI: 175.1102
• Rent YoY: —
• Metro: Peoria, IL
• State GDP YoY: ▲ 1.59%
• F500 in state: 60

Industry mix (Fortune 500 HQ in IL)

Industry	F500 HQs	Revenue
▸Insurance	4	$201B
▸Consumer Goods	4	$87B
▸Industrial Machinery	3	$64B
▸Healthcare	2	$55B
▸Retail / Pharmacy	1	$148B
▸Agriculture / Food	1	$86B

Price history

+0.0% since first listed

3 events — show timeline

• 2026-06-01 Pending — RMLSA as Distributed by MLS Grid
• 2026-05-08 Listed $79,900 RMLSA as Distributed by MLS Grid
• 2026-05-04 Coming Soon $79,900 RMLSA as Distributed by MLS Grid

Property tax history

-0.8%/yr

Latest (2025): $507 · -0.4% YoY. Source: county tax records.